Brent crude oil prices approached $90 a barrel on Tuesday, fueled by Middle East tensions and Houthi threats to blockade Saudi Arabia. This geopolitical uncertainty contributed to a fall in India's equity benchmarks. Higher oil prices are a significant risk for major importers like India, potentially driving inflation and widening trade deficits. For Pakistan, sustained high crude prices could increase import costs, pressure the USD/PKR rate, and potentially boost gold's appeal as an inflation hedge.
بحوالہ / Source: www.brecorder.com